Today’s Gold Rate in Cochin

The second largest city in Kerala, Cochin or Kochi has been a home to travelers since the middle-ages as it has been a centre for trade and commerce for a long time. Though spices play a key role in the trade market, this has brought about international interaction and enabled the people to grow prosperous. The state of Kerala is of great importance globally and not just in India. The state is also an opportunity-rich marketplace for big investors and retail gold buyers alike. Credits to propriety and growth, the city people have sufficient money, which they love to invest in buying gold. Kochi is the place where major portion of gold is purchased or sold in the country.

Trend of Gold Rate in Cochin for last 10 days

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According to researches and reports, Kerala contributes to more than 20% of the total gold consumption in India on an annual basis. Gold jewellery, for the people of Cochin is not just wealth, but also a form of financial security. The city has some of India’s most renowned jewelers with thousands of artisans who make gold jewellery thriving here.

Gold is considered valuable in Kochi and in many other parts of India for various reasons including the following:

• Value: Gold’s monetary value mostly tends to rise in the long-term, though it may fluctuate in the short term, making it a top choice for long-term investments in gold. Gold generally is only marginally affected by economic or geopolitical turmoil, thereby providing high liquidity and easy trading in times of emergencies. It serves as a hedge against inflation and also as a great portfolio enhancer investors.
• Tradition: Gold has been used for financial transactions since centuries. In the Indian traditions, this precious metal has been passed down through ages as a blessing and valuable possession, which prevails even today.
• Metal’s versatility: Gold, available in several forms, makes for a versatile and useful investment. It is popularly available as jewellery and can also be held in form of coins, or gold bars. Moreover, it is also used in edible form and is woven into fabrics in some places.
• Gold reserves: In many countries, gold is maintained as reserves to back paper currencies, which then attain their value based on the available gold reserves. Gold reserves are also held by India’s Central Bank. It is against these reserves, referred to as store value, that the Indian currency is printed and accordingly circulated in the country. Besides this, the reserves act as security for amounts which are due to trading partners or depositors.
• Limited supply: The limited amount of gold available around the world makes it rare and hence quite valuable. The gold ore takes decades to form and is a non-renewable metal, which allows us to mine and produce only a specific amount of the precious metal. Due to this, gold has more value as a scarce and irreplaceable asset.
• Industrial uses: Although, not comparable to gold’s retail consumption, Gold is used for various manufacturing and production processes in a number of industries.